10 Tiny Habits That Made Me Rich

Episode Overview

• The speaker shares her "secrets" and small, "almost forgettable" habits that helped her move from being stressed about money to achieving a financially stress-free life.
• She emphasizes that these tips are simple, science-backed, and don't require elaborate routines or waking up at 5 a.m.
• The episode focuses on how small, consistent actions and paying attention to details can lead to significant financial improvement over time.

Key Concepts

• The 50% Bonus Rule: When you receive a bonus or unexpected income, immediately save half and allow yourself to spend the other half. This creates a balance between saving and enjoying your earnings without guilt.
• Negotiating Recurring Bills: Almost all recurring expenses, such as utility bills, internet, and even credit card fees, are negotiable. The speaker encourages calling providers annually to ask for loyalty discounts or better rates.
• Strategic Shopping for Consumables: To save on items you regularly purchase, like beauty and skincare products, buy them in bulk during major annual sales events (e.g., Black Friday in November) to get discounts of up to 50%.
• Combating Impulse Buys: Simple behavioral tricks can prevent overspending. This includes eating before going grocery shopping to avoid hunger-driven impulse buys and deleting shopping apps from your phone to reduce temptation from notifications and easy access.
• Leveraging Professional Wins: Keep a digital folder (e.g., in your email) to save all positive feedback and professional achievements. This "receipts" folder provides concrete evidence to advocate for yourself during performance reviews and salary negotiations.

Quotes

• At 00:12 - "The devil is in the details." - The speaker explains that the key to financial freedom lies in small, often overlooked habits.
• At 01:49 - "Cosplaying being poor is not the best way to make money." - While discussing the 50% bonus rule, she argues against a restrictive poverty mindset, emphasizing the importance of treating yourself to stay motivated.
• At 02:48 - "Everything is negotiable." - The speaker highlights the power of negotiation when it comes to recurring bills, noting that most people don't realize they can ask for discounts.

Takeaways

• Implement the 50/50 rule for any bonus or windfall: save half immediately and use the other half to treat yourself.
• Set an annual reminder to call your utility, internet, and subscription providers to negotiate a lower rate by mentioning competitor offers or asking for loyalty discounts.
• Create a "Kudos" or "Praise" folder in your email to store positive feedback from your manager and colleagues, which can be used as leverage for a future pay raise.
• Delete shopping apps from your phone to reduce the friction of impulse buying and avoid being targeted by constant sale notifications.